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Charles Schwab, 2004 Timeline Saturday, April 21 Bookmark and Share     Author
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Commissions lowered  The online stock brokerage leader will lower online trading commissions for its average customers by 33% Charles Schwab recalled as CEO
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Schwab, 2004   San Francisco, 2004 (91)   U.S. in January, 2004 (101)   Recalled (17)   San Francisco, July, 2004 (83)
CEO realizes $6.3 million gain from options  David Pottruck sold 574,818 of his stock options in the discount brokerage during the past few days Schwab to step down from Gap board  Stock brokerage pioneer is ending an 18-year stint with the clothing retailer Schwab, CEO decline $8 million in bonuses  Charles Schwab Chairman Charles Schwab and CEO David Pottruck declined bonuses totaling last year 1st-quarter profit more than doubles
Highest profit since market's peak


January 2004 ... more > Top ^
Jan.22
  Discount broker earned $148 million, or 11 cents per share, in the 4th quarter, reversing a loss of $79 million


February 2004 ... more > Top ^
Feb.2


March 2004 ... more > Top ^
Mar.23
Mar.29


April 2004 ... more > Top ^
Apr.20
  Rejuvenated investors carried the stock broker to its best quarter since the .com bust decimated its business


May 2004 ... more > Top ^
May.25


July 2004 ... more > Top ^
Jul.20
  Discount broker dumped CEO David Pottruck and replaced him with founder. Schwab reported a 10% drop in profit
Jul.28 Schwab to close 53 branches  Charles Schwab has laid off another 245 workers

August 2004 ... more > Top ^
Aug.31 Schwab sells division to UBS for $265 m
  Backpedaling from a recent expansion, the company is selling an institutional investment and research division

September 2004 ... more > Top ^
Sep.27 Schwab Prepares to Cut Hundreds Jobs
  The layoff notices are going out in the area of Schwab technology, including people who run Schwab's website

October 2004 ... more > Top ^
Oct.4 Schwab warns of revenue drop
  Slumping stock broker is cutting its online prices for all customers, hoping to lure back bargain-minded investors Oct.15 Slump continues with $41 million loss
  Stock broker suffered a 3rd-quarter loss of $41 million, reflecting the costs of an expansion gone awry


November 2004 ... more > Top ^
Nov.8 Ousted CEO gets $10 million contract
  Cost-cutting stock brokerage is keeping its recently ousted chief executive David Pottruck on its payroll




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